Tango Therapeutics (NASDAQ:TNGX) Hits New 12-Month High – Here’s Why

Tango Therapeutics, Inc. (NASDAQ:TNGX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.48 and last traded at $13.3090, with a volume of 923921 shares trading hands. The stock had previously closed at $12.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Monday, October 27th. Guggenheim increased their price objective on Tango Therapeutics from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 6th. B. Riley Financial lifted their target price on shares of Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, Stifel Nicolaus assumed coverage on shares of Tango Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target for the company. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

Tango Therapeutics Price Performance

The stock has a market capitalization of $1.74 billion, a PE ratio of -13.87 and a beta of 1.75. The company has a 50 day moving average price of $10.68 and a 200-day moving average price of $8.81.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 18,452 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $226,221.52. Following the transaction, the insider owned 187,218 shares in the company, valued at approximately $2,295,292.68. This represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $126,486.42. Following the completion of the transaction, the chief financial officer owned 184,297 shares of the company’s stock, valued at approximately $2,259,481.22. The trade was a 5.30% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 59,288 shares of company stock valued at $726,871. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in shares of Tango Therapeutics by 138.8% in the 1st quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock worth $97,000 after buying an additional 40,983 shares during the period. AQR Capital Management LLC purchased a new stake in Tango Therapeutics in the first quarter worth about $195,000. Dynamic Technology Lab Private Ltd grew its holdings in Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing an additional 15,037 shares during the period. Woodline Partners LP increased its stake in shares of Tango Therapeutics by 28.3% during the first quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock valued at $693,000 after purchasing an additional 111,791 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Tango Therapeutics by 270.6% during the first quarter. Jane Street Group LLC now owns 352,897 shares of the company’s stock valued at $483,000 after purchasing an additional 257,668 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.